OPINION: How external reserves declined from $47 billion in 2013 to $29 billion in 2015 under Jonathan

Editor’s note: It is argued that the economic recession plaguing Nigeria was caused by the fall in oil price at the international market. But some people opine that the country is facing the economic crisis because of the failure of previous government to plan for the future.

f) Settled fully accumulated contractors debt such that all major contractors are now back to site.

g) Settled fully oil importers claims amounting to $400 million.

h) NNPC restructured and now solvent and liquid.

i) Foreign Direct Investment (FDI) steadily picking up.

j) Agricultural revolution taken off such that we now have small holder farmers’ millionaires.

k) Looted funds recovered running into trillion Naira mark and ploughed back into the budget.

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l) TSA the plugged loopholes of waste and swindle of public funds, now N4 trillion - to mention just a few.

Bottom line:

a) Those looking for a magic wand, here it is. Using $52 billion or 12% in TWO years to achieve what Jonathan could not achieve with $445 billion in five years.

b) Only an incorrigible hater will say that Nigeria is not making progress under the PMB administration with the acute resource constraint and the multiplying challenges facing the country. I rest my case. May PMB/PYO succeed.

Meanwhile, NAIJ.com had previously reported that former President Goodluck Jonathan said that there were instances of corruption during his administration and admitted that he failed to plug all the loopholes.

The views expressed in this article are the author’s own and do not necessarily represent the editorial policy of NAIJ.com.

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